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AMC has 'substantial doubt' that it can survive coronavirus outbreak shutdown
Posted on 6/3/20 at 11:33 am
Posted on 6/3/20 at 11:33 am
quote:
AMC has "substantial doubt" it can remain in business after shuttering all of its locations during the coronavirus pandemic.
The company revealed that its revenue had fallen $941.5 million in the first quarter, a nearly 22% drop from the $1.2 billion it garnered in the same quarter last year. The second quarter is expected to be even worse.
AMC worries that distributors will continue to push back new film releases, hurting operations.
In April, AMC Theaters said a new debt offering would allow the company to withstand these closures until a partial reopening ahead of Thanksgiving. However, in a filing with the Securities and Exchange Commission the company disclosed concerns about liquidity, its ability to generate revenue and the timeline of reopening its theaters.
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Posted on 6/3/20 at 11:35 am to RLDSC FAN
quote:That's rough buddy
"We are generating effectively no revenue," the company said in a regulatory filing Wednesday.
Posted on 6/3/20 at 11:35 am to RLDSC FAN
The gorillas on horseback can convert them to internment camps for the humans.
Posted on 6/3/20 at 11:42 am to RLDSC FAN
I almost feel bad until I remember paying $9 for an ICEE
Posted on 6/3/20 at 11:46 am to RLDSC FAN
I can't fathom a world without AMC locations...who is going to move into those buildings?
I love those dine-in theaters they implemented.
Those tray tables/recliners with the electronic button to move back and kick your feet up are heaven.
I love those dine-in theaters they implemented.
Those tray tables/recliners with the electronic button to move back and kick your feet up are heaven.
Posted on 6/3/20 at 11:48 am to RLDSC FAN
This is certainly not a good thing.
Posted on 6/3/20 at 11:50 am to JS87
Another theater chain will probably just buy them at a huge discount
Posted on 6/3/20 at 11:54 am to RLDSC FAN
Small popcorn costs $35...and AMC somehow doesn’t have an emergency savings account?
All kidding aside, I feel bad for anyone who will lose their jobs because of this.
All kidding aside, I feel bad for anyone who will lose their jobs because of this.
Posted on 6/3/20 at 11:55 am to Boring
quote:
mall popcorn costs $35...and AMC somehow doesn’t have an emergency savings account?
quote:I guess not one that is big enough.
As of April 30, the company said that it had a cash balance of $718.3 million.
Posted on 6/3/20 at 11:57 am to Esquire
quote:
I almost feel bad until I remember paying $9 for an ICEE
I thought the same thing about GameStop a few months back. You guys are struggling, but you'd offer me $20 total for 7 games I was trading in
Posted on 6/3/20 at 11:58 am to RLDSC FAN
Too bad for them Amazon was rumored to be interested in buying AMC Studios(AMCX) and not the movie theater chain (AMC).
Posted on 6/3/20 at 12:01 pm to RLDSC FAN
Thoughts and prayers to everyone who had a gun put their head as the teenage counter person forced you to buy overpriced popcorn.
Tip:
-Pay the $19 a month for A-List, see four or five movies a month
-Eat before you go to the movie
Tip:
-Pay the $19 a month for A-List, see four or five movies a month
-Eat before you go to the movie
Posted on 6/3/20 at 12:02 pm to RLDSC FAN
They are owned by a Chinese company. So while I feel bad for those who lose their jobs, it doesn’t overly bother me that they are going out of business. Also, I’m glad it’s not the AMC channel lol
Posted on 6/3/20 at 12:04 pm to RLDSC FAN
That's what they get for getting in bed with the Chinese Communists.
Posted on 6/3/20 at 12:22 pm to RLDSC FAN
Eventually distributors will realize that we do not need to go to a movie theater to watch new movies. Unfortunately, the model of going to the movies is becoming more and more ancient. A few years ago, I'd go once a month at minimum. Now I may go a couple times a year if I want to see a particular movie on the big screen with the sound.
Posted on 6/3/20 at 12:33 pm to RLDSC FAN
They were in financial trouble last year, too bad they are using Corona to finally declare it.
AMC has become so ridiculously expensive, I don’t know there is a movie that is ever worth paying that much just a walk in the front door and get a popcorn and Coke.
The one by our house has just bags and bags of popcorn sitting under a heat lamp, God knows how long ago that popcorn was actually made. And they still have the balls to charge eight dollars for a small popcorn.
They advertise it like unlimited free refills self serve bullshite but I don’t want to pay nine dollars for a Coke like most other folks, it’s that simple. It’s funny to go into one of the theaters and then you see everybody pulling out of soda cans and candy that they smuggled into the theater
AMC has become so ridiculously expensive, I don’t know there is a movie that is ever worth paying that much just a walk in the front door and get a popcorn and Coke.
The one by our house has just bags and bags of popcorn sitting under a heat lamp, God knows how long ago that popcorn was actually made. And they still have the balls to charge eight dollars for a small popcorn.
They advertise it like unlimited free refills self serve bullshite but I don’t want to pay nine dollars for a Coke like most other folks, it’s that simple. It’s funny to go into one of the theaters and then you see everybody pulling out of soda cans and candy that they smuggled into the theater
This post was edited on 6/3/20 at 12:37 pm
Posted on 6/3/20 at 12:51 pm to RLDSC FAN
If they go out of business, I will be glad to take a substantial portion of their popcorn supply.
Posted on 6/3/20 at 12:51 pm to RLDSC FAN
This will make tv/electronics devices increase in price. Less theaters = more marketing from big brands to bring the theater experience home.
Buy this new 8K for $15k with this rich 5.1 "surround sound" system!
Buy this new 8K for $15k with this rich 5.1 "surround sound" system!
Posted on 6/3/20 at 12:54 pm to RLDSC FAN
Where am I going to see a film in dolby digital now?
Posted on 6/3/20 at 12:57 pm to RLDSC FAN
Isn't Amazon rumored to be flirting with the prospect of buying AMC? I thought I heard something to that effect on Fox Business a few days ago.
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